There are many types of digital assets, and the majority of the coins issued after Bitcoin are called altcoins. An altcoin is an alternative coin created based on the Bitcoin source code but with numerous modifications. The brightest representative of altcoins is Litecoin.
The main features of Litecoin:
- The Litecoin base is similar to BTC. The Litecoin network was used for testing and improvement to be added to the Bitcoin network later.
- Litecoin is based on Scrypt as a proof of work scheme.
- The Litecoin network allows faster block generation compared with BTC.
- The LTC emission is limited to 84 million coins in circulation.
LTC is a popular digital asset traded on all large crypto exchanges, for example, WhiteBIT, Coinbase and others. Crypto-fiat pairs like LTC USD are available only for registered and verified users.
As of November 2022, the LTC rate is $70.25. Looking at the monthly chart, we can see the asset’s price increased from $50 to $70, but in the one-year timeframe, we can see a decline in the LTC value: from $150 in January down to $43 in June.
How To Invest in Litecoin?
If you are interested in investment in LTC, you can buy this asset on the WhiteBIT crypto exchange. That is a Europe’s largest platform for trading that ensures a high level of security for users’ funds.
Crypto experts believe that the LTC rate can reach %103 in 2023, so investment in LTC sounds like a good idea. Anyway, before buying any crypto, you should remember that this market is highly volatile and be ready to take a risk.
To learn more about crypto investment, go to the WhiteBIT blog. You will find coin reviews, guides on trading and many helpful and interesting articles on the crypto topic.
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